Policyholder Services

Will I start out at a first year step the first year I join OMIC?

Not necessarily.  Your step rate is determined by your retroactive date.  If you are beginning practice for the first time, transferring from an occurrence policy, or purchasing a tail from your prior carrier, you will join OMIC at a first year step.  However, if you obtain prior acts coverage from OMIC, your policy will be rated at whatever step you would be at had you been insured with us all along. If you have been insured under a claims made policy for more than four years and purchase prior acts coverage from OMIC, you will most likely be rated at the “mature” (fifth year) rate.